Thailand's sports drink market is expected to become more active this year, driven by higher consumer spending power.
Supachai Junkeiat, global marketing division director of TCP Group, the manufacturer of Krating Daeng energy drink and Sponsor sports drinks, said the Thai sports drink market grew only 7-8% in 2017 and 3-4% in 2018 following double-digit gains the past five years.
The country's economic downturn and slowing consumer purchasing power were blamed for the weaker growth.
"We've seen good signs for sports drink sales in the first seven months this year," he said.
"The overall market grew by 15% year-on-year for the period. Sports drinks has a top-three growth level in the beverage sector, following energy drinks and ready-to-drink tea.
"We expect the overall sports drink market to resume growth of 6-7% this year from 3-4% growth last year."
To cash in on this growth, the company recently refreshed its Sponsor brand image for the first time in a decade, changing the design of its Sponsor Plus C and Sponsor Active to Sponsor Active Series with a new formula containing 6-8% sugar, down from 10%.
Sponsor Active Series targets active teenagers and working professionals.
Sponsor pioneered ready-to-drink bottled electrolyte beverages in Thailand thanks to Chaleo Yoovidhya, the founder of Krating Daeng beverage in 1985.
The initiative was considered revolutionary in terms of mineral consumption, as Thais previously had to mix electrolyte powder in water. This led to Sponsor's success as the market leader.
The company is spending 300 million baht on marketing activities to promote its new products.
TCP Group hired actress Supassra "Kao" Thanachat as the brand's first female spokesmodel.
Mr Supachai said the sports drinks market in Thailand is expected to reach a value of around 5.5 billion baht this year. Sponsor is the market leader for sports drinks, controlling 90% of the market.
"We are confident Sponsor Active Series will help support our growth and further strengthen Sponsor's position, expanding our fan base to those with an active lifestyle and who need something refreshing," he said.